Edmund Phelps

Eric von Hippel, an MIT scholar, studies how everyday people contribute significantly to innovation, while Edmund Phelps, a Nobel laureate, connects innovation with human flourishing. They reveal how grassroots creativity, like the evolution of mountain bikes and home inventions, often inspires breakthroughs more than formal R&D. The discussion highlights the importance of recognizing these contributions for economic growth and suggests that embracing personal innovation could enhance both productivity and well-being.